Costain Regulatory News (COST)

Costain Group PLC

High Speed Two contract awards

Costain, the engineering group, deploying technology-based solutions to meet urgent national needs across the UK's energy, water and transportation infrastructures, announces that High Speed Two Ltd ("HS2") has, following the announcement of 17 July 2017, formally awarded Costain, in joint venture, two Main Work Civil Construction (S1 and S2) packages.

The S1 package will link London Euston and Old Oak Common and involves the construction of two tunnels of 8.8 km each and a bridge extension. The S2 package will run from Old Oak Common with two tunnels of 13.7 km each and an above-ground section of 2.2 km that will link up with Lot C1. The design phase is to be completed in 2018 with construction expected to be completed by 2023.

HS2 will significantly increase capacity on the UK's rail network, boosting connectivity between the UK's major cities and significantly reducing current journey times.  

The combined contract value is estimated at circa £1.8 billion to the SCS consortium comprising Skanska (34%), Costain (34%) and STRABAG (32%).

Andrew Wyllie, Chief Executive, commented:

"We are delighted to have been awarded these major contracts by HS2 and which follow on from the South Enabling Works Contract awarded last year.

"The awards are further testimony to Costain's collaborative approach and strong track record in applying technology-based innovative solutions in the delivery of large-scale projects."

 1 August 2017